In case you missed the Binance Defi Summit on September 10th, ForTube is one of 5 projects launching on Binance Smart Chain (BSC). In order to encourage users to try out the new protocol, we’ve laid out some plans to sweeten the pot! We are excited about how BSC can drastically help with scaling ForTube and lowering gas fees for users, so read more to find out about what’s coming up.
About ForTube BSC :
ForTube BSC is a decentralized lending protocol deployed by ForTube on Binance Smart Chain.
About the upcoming ForTube BSC Liquidity Incentivizer plan:
Pool 1: ForTube BSC deposit mining:
All the users can provide liquidity to ForTube BSC and get FOR token rewards. Currently ForTube BSC has supported more than 20 mainstream cryptocurrencies such as BTC, BCH, LTC, and ETH in the BEP20 format. The liquidity mining incentive plan is to distribute mining rewards according to the proportion of users’ net assets deposited, with a daily reward of 800,000 FOR. Different assets have different reward indexes. The calculation formula of user’s net assets is: deposited asset amount * asset reward index -borrowed asset amount * asset reward index. The rules of rewards and asset reward indexes will be adjusted according to changes in platform assets.
The system will take a random snapshot of all users’ assets three times a day, and then take the average of the three times into the mining reward calculation. The rewards will be calculated every day and users can withdraw rewards for the preceding day. Users need to manually withdraw rewards on the mining rewards page.
Pool 2: Providing liquidity to FOR/BNB pool on AMM Dex
All the users can provide liquidity to FOR/BNB pool on AMM Dex. Deposit the liquidity share tokens into the designated lock-up contract of ForTube to enjoy Pool 2 rewards. The daily rewards of Pool 2 is 100,000 FOR, which will be distributed according to the proportion of users depositing liquidity share tokens. Pool 2 is expected to be launched 3 days after Pool 1.
Pool 3: Locking up in the governance contract to get rewards
The governance platform is the only governance channel for ForTube BSC. All the users can initiate new proposals and vote on other proposals on the governance platform. FOR holders can lock FOR in the governance contract, obtain voting power of ForTube BSC, and get FOR token rewards, which will be distributed according to the proportion of locked FOR. The daily reward of Pool 3 is 100,000 FOR. Pool 3 is expected to be live 7 days after Pool 1.
The ForTube BSC liquidity incentive plan does not require complicated operations. Users only need to deposit cryptoassets on the ForTube BSC platform to start mining. Based on BSC’s powerful data processing capabilities and lower gas consumption, ForTube BSC will provide users with more abundant decentralized lending products.
ForTube’s security design:
ForTube 2.0 uses the industry’s leading safe and scalable system architecture audited by well-known security institutions. It’s been designed to flexibly upgrade various system modules under a decentralized governance management system for system and security updates. The platform can continuously upgrade various contract modules to continuously eliminate possible security risks brought by the industry’s latest general vulnerability disclosures at the fastest iteration speed, greatly improving the system security of the product.
ForTube 2.0 adopts an original off-chain audit system, which can perform 7x24 uninterrupted audits of contract assets to protect the security of users’ assets in all aspects. If the risk control system determines that the contract platform has risks, it will quickly lock the contract interface within a block of at most 15 seconds, prohibit all asset-related incoming and outgoing calls to fully protect the security of users’ assets.
The ForTube BSC Liquidity Incentivizer Plan will be launched on September 14th. Head over to https://bsc.for.tube/bank/home to try it out! In the meantime, don’t forget to join our Telegram and Twitter for more details about our leading DeFi platform!
About ForTube:
ForTube is the world’s top DeFi lending platform launched by The Force Protocol. It is committed to providing decentralized lending services for cryptoasset enthusiasts around the world, supporting most of the world’s popular assets. ForTube is based on smart contracts and automated algorithm technology. Users can deposit tokens to earn interest, pledge and borrow tokens to pay interests. ForTube’s interest rate is determined by market supply and demand. Assets are controlled by users. ForTube allows users to deposit and withdraw anytime, borrow and repay anytime globally.
About BSC:
Binance Smart Chain (BSC), an Ethereum Virtual Machine-compatible blockchain that is ready to be tested and piloted by some of the top projects in the crypto industry, is expected to greatly increase the utility of both Binance Chain and BNB. With the introduction of the Proof of Staked Authority (PoSA) consensus mechanism, BSC creates an ecosystem where validators, token holders, developers, and users all benefit from a rewarding blockchain that offers high performance and ample space for further innovations.
The Binance Chain community launched BSC in time for the DeFi revolution, as the public shows increased interest in alternative financial solutions powered by blockchain. With BSC’s launch, DeFi projects and the bigger blockchain community can leverage the best that Binance Chain has to offer, fortified by smart contract support, cross-chain interoperability, and more.
Know More About ForTube:
▲Medium: https://medium.com/@theforceprotocol
▲ForTube website: https://www.for.tube/home
▲Twitter: https://twitter.com/ForTubeFi
▲Github: https://github.com/thefortube
▲knowledge library of ForTube platform: https://docs.for.tube/
